研讨会国际金融2010-self answerseminar 02自解答.pdfVIP

SEMINAR02-INTERNATIONALFINANCE(2010/2011)

Multiplechoicequestions:

1.TheU.S.dollarsuddenlychangesinvalueagainsttheeuromovingfromanerateof

$0.8909/euroto$0.08709/€.Thus,thedollarhas________by________.

A)appreciated;2.30%

B)depreciated;2.30%

C)appreciated;2.24%

D)depreciated;2.24%

2.IfthedirecteforaU.S.investorforBritishpoundsis$1.43/£,thentheindirectefor

theU.S.investorwouldbe________andthedirectefortheBritishinvestorwouldbe

________.

A)£0.699/$;£0.699/$

B)$0.699/£;£0.699/$

C)£1.43/£;£0.699/$

D)£0.699/$;$1.43/£

3.Usethetabletoanswerfollowingquestion(s).

Thecurrentspotrateofdollarsperpoundasedinanewspaperis

________or________.

A)£1.4484/$;$0.6904/£

B)$1.4481/£;£0.6906/$

C)$1.4484/£;£0.6904/$

D)£1.4487/$;$0.6903/£

4.PeterSimpsonthinksthattheU.K.poundwillcost$1.43/£insixmonths.A6-monthcurrency

futurescontractisavailabletodayatarateof$1.44/£.IfPeterwastospeculateinthecurrency

futuresmarket,andhipectationsarecorrect,whichofthefollowingstrategieswouldearn

himaprofit?

A)Sellapoundcurrencyfuturescontract.

1

B)Buyapoundcurrencyfuturescontract.

C)Sellpoundstoday.

D)Sellpoundsinsixmonths.

5.Aputoptiononyeniswrittenwithastrikepriceof¥105.00/$.Whichspotpriceizes

yourprofitifyouchoosetoexercisetheoptionbeforematurity?

A)¥100/$

B)¥105/$

C)¥110/$

D)¥115/$

Essay

6.Compareandcontrastforeigncurrencyoptionsandfutures.Identifysituationswhenyoumay

preferonevs.theotherwhenspeculatingonforeigne.

Problems

FromEitemanetal.:

7.Chapter6,problems1-16(pp.160-163)

8.Chapter8,problems1-10(pp.226-228)